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A key feature of insurance markets is that the cost of selling insurance policies is contingent upon not only the … number of policies sold but to whom they are sold. This differentiates insurance markets from conventional markets and admits … categorization data for the Washington state non-standard private passenger automobile liability insurance market. This unique data …
Persistent link: https://www.econbiz.de/10014145136
This paper considers moral hazard insurance markets when voluntary monitoring technologies are available and insureds … contract schemes are compared in terms of welfare: (i) monitoring conditional on the loss with only the insurance indemnities …
Persistent link: https://www.econbiz.de/10003547443
This paper considers moral hazard in insurance markets when voluntary monitoring technologies are available and … contract schemes are compared in terms of welfare: (i) monitoring conditional on the loss with only the insurance indemnities …
Persistent link: https://www.econbiz.de/10009746191
A finite number of sellers (n) compete in schedules to supply an elastic demand. The costs of the sellers have uncertain common and private value components and there is no exogenous noise in the system. A Bayesian supply function equilibrium is characterized; the equilibrium is privately...
Persistent link: https://www.econbiz.de/10003910453
A finite number of sellers (n) compete in schedules to supply an elastic demand. The costs of the sellers have uncertain common and private value components and there is no exogenous noise in the system. A Bayesian supply function equilibrium is characterized; the equilibrium is privately...
Persistent link: https://www.econbiz.de/10013316291
A Bayesian supply function equilibrium is characterized in a market where firms have private information about their uncertain costs. It is found that with supply function competition, and in contrast to Bayesian Cournot competition, competitiveness is affected by the parameters of the...
Persistent link: https://www.econbiz.de/10013316471
A finite number of sellers (n) compete in schedules to supply an elastic demand. The costs of the sellers have uncertain common and private value components and there is no exogenous noise in the system. A Bayesian supply function equilibrium is characterized; the equilibrium is privately...
Persistent link: https://www.econbiz.de/10014202206
health insurance plan offered by an employer. In their model, only the premium plan is required to break even and we argue …
Persistent link: https://www.econbiz.de/10012991440
Persistent link: https://www.econbiz.de/10011518691
A Bayesian supply function equilibrium is characterized in a market where firms have private information about their uncertain costs. It is found that with supply function competition, and in contrast to Bayesian Cournot competition, competitiveness is affected by the parameters of the...
Persistent link: https://www.econbiz.de/10003763172